Daqo New Energy Corp. (NYSE:DQ) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in Daqo New Energy Corp. (NYSE:DQ) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the semiconductor company’s stock after purchasing an additional 1,400 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Daqo New Energy were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. KBC Group NV boosted its position in shares of Daqo New Energy by 12.9% during the 3rd quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 2,877 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Daqo New Energy by 4.3% in the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 764 shares during the period. Signaturefd LLC boosted its holdings in Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after buying an additional 602 shares in the last quarter. Blue Trust Inc. increased its holdings in Daqo New Energy by 132.3% in the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares in the last quarter. Finally, Green Alpha Advisors LLC lifted its position in shares of Daqo New Energy by 15.9% during the 3rd quarter. Green Alpha Advisors LLC now owns 23,877 shares of the semiconductor company’s stock valued at $486,000 after acquiring an additional 3,270 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

Daqo New Energy Stock Performance

Shares of DQ stock opened at $20.03 on Monday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -10.83 and a beta of 0.32. The company has a 50 day moving average price of $20.83 and a 200 day moving average price of $18.45. Daqo New Energy Corp. has a one year low of $13.62 and a one year high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $186.90 million. During the same period last year, the business posted ($0.09) earnings per share. As a group, equities analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on DQ. Jefferies Financial Group dropped their price objective on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating for the company in a research note on Monday, August 26th. HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Finally, Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Daqo New Energy currently has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.